Economy

Trucker Knight-Swift's Q3 profit falls on merger costs

As per Tuesday, November 29, the company rating was initiated by Mackie. The firm earned "Overweight" rating on Monday, October 16 by Barclays Capital. UBS upgraded the stock to "Buy" rating in Tuesday, October 25 report. The rating was upgraded by Longbow to "Buy" on Monday, September 21. The company was maintained on Tuesday, September 19 by KeyBanc Capital Markets.

Grandeur Peak Global Advisors Llc decreased Knight Transportation Inc (KNX) stake by 14.14% reported in 2017Q2 SEC filing. Moreover, 12Th Street Asset Management Company Llc has 3.54% invested in the company for 518,975 shares. The stock's average target of $21.11 is -28.42% below today's ($29.49) share price.

"The challenging driver market continues to be the biggest headwind faced by the Swift Truckload, Swift Dedicated, and Swift Refrigerated segments, which is pressuring our recruiting, driver wage and safety-related expenses as well as our operational truck count and utilization", the company said. Stifel Nicolaus' price target would indicate a potential upside of 0.40% from the company's previous close. About 4.32 million shares traded or 110.73% up from the average. Knight-Swift Transportation Holdings Inc (NYSE:KNX) has risen 26.59% since November 5, 2016 and is uptrending. It has outperformed by 27.72% the S&P500. Knight Transportation had 59 analyst reports since July 24, 2015 according to SRatingsIntel. Knight Transportation had 61 analyst reports since July 24, 2015 according to SRatingsIntel. The company was upgraded on Monday, February 22 by Bank of America.

Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The firm earned "Buy" rating on Friday, September 11 by Bank of America. The stock has "Neutral" rating by Citigroup on Thursday, August 27. The firm has "Hold" rating given on Tuesday, November 22 by Stifel Nicolaus. The stock of Knight-Swift Transportation Holdings Inc (NYSE:KNX) has "Sector Perform" rating given on Thursday, October 22 by RBC Capital Markets. On Wednesday, October 11 the stock rating was maintained by BMO Capital Markets with "Hold".

Knight-Swift reiterated its post-merger synergies of $15 million by end of 2017, increasing to $100 million for 2018 and $150 million in 2019. Its up 0.57, from 1.13 in 2017Q1.

In other Knight-Swift Transportation Holdings news, insider Richard Stocking sold 126,722 shares of the firm's stock in a transaction dated Wednesday, August 16th. 56 funds opened positions while 112 raised stakes. Finally, Bluefin Trading LLC purchased a new stake in shares of Knight-Swift Transportation Holdings in the second quarter worth approximately $2,568,000. Morgan Stanley holds 0.01% or 941,370 shares in its portfolio. The SI to Tim Participacoes SA's float is 0.42%.

Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Monday, November 6th. The Beta for the stock stands at 0.24. Shell Asset Management Co. boosted its holdings in shares of Knight-Swift Transportation Holdings by 213.2% in the third quarter. Oppenheimer Asset Mngmt Inc stated it has 0.01% of its portfolio in Knight-Swift Transportation Holdings Inc (NYSE:KNX). 493,103 are held by Luminus Mngmt Lc. Scge Mgmt Limited Partnership invested in 9.23% or 375,000 shares. First Personal Ser holds 0.01% of its portfolio in Knight-Swift Transportation Holdings Inc (NYSE:KNX) for 1,386 shares. Jpmorgan Chase And reported 2.43 million shares or 0.02% of all its holdings.

Institutional Investors own 78.30% of Weyerhaeuser Company (NYSE:WY) while inside ownership was 0.20%. Following the transaction, the general counsel now owns 23,638 shares in the company, valued at $894,934.68. It also upped Catchmark Timber Tr Inc (NYSE:CTT) stake by 31,850 shares and now owns 143,375 shares. Mednax Inc (NYSE:MD) was raised too.

Since January 1, 0001, it had 0 insider buys, and 3 selling transactions for $610,090 activity. Swift Transportation had a net margin of 4.54% and a return on equity of 32.99%.

More important recent Knight-Swift Transportation Holdings Inc (NYSE:SWFT) news were published by: Businesswire.com which released: "Knight-Swift Transportation Holdings, Inc".

Investors sentiment decreased to 1.06 in 2017 Q2. Its down 0.49, from 1.09 in 2017Q1.

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advsr L P reported 0.02% stake. State Board Of Administration Of Florida Retirement Sys invested in 40,099 shares or 0% of the stock. Eqis Cap Mgmt invested in 0.04% or 5,188 shares. Employees Retirement Association Of Colorado has 0% invested in Sonic Corporation (NASDAQ:SONC) for 12,921 shares. 118,370 were reported by Qs Invsts Ltd Liability Com. Water Island Capital Lc holds 189,750 shares or 0.33% of its portfolio. Daiwa Gru reported 44,300 shares. About 820,812 shares traded.



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